March 21, 2018

Hong Kong based CNOOC Limited announced that Weizhou 6-13 oilfield has commenced production ahead of schedule.
Weizhou 6-13 oilfield is located in Beibu Gulf in the South China Sea with an average water depth of approximately 35 meters. In addition to fully utilizing the existing facilities of Weizhou 12-1 oilfield, the project has also built one wellhead platform. Currently, there are seven wells in production and the project is expected to reach a peak production of approximately 9,400 barrels of crude oil per day in 2019, exceeding its ODP approximately 3,000 barrels of crude oil per day.
Weizhou 6-13 oilfield is an independent oilfield in which the Company holds 100% interest and acts as the operator.
Mr. Yuan Guangyu, CEO of the Company, said: “Weizhou 6-13 oilfield not only commenced production ahead of schedule, but also exceeded its ODP’s estimates in both reserves and production. This is attributable to the Company’s efforts in strengthening of its innovation and technology-driven philosophy and reinforcing its quality and efficiency enhancements.”
The Beibu Gulf Project consists of three oil fields located approximately 60km from the southern coast of China and north-west of Hainan Island. The Beibu Gulf project started production in March 2013. The processed oil is transported to the storage and export terminal located at Weizhou Island via pipelines. The 32km, 16-in pipeline is also owned and operated by CNOOC. (Source: CNOOC)